The Supreme Court ruled that the old N200, N500, and N1,000 notes will be valid and in circulation until December 31, 2023.
In a ruling issued on Friday, March 3, the Supreme Court also declared the Federal Government’s Naira redesign policy unconstitutional, calling it an affront to the 1999 Constitution.
The Supreme Court also ruled that President Buhari admitted in his broadcast that the policy is flawed and fraught with difficulties.
The court also stated that the policy has resulted in some people engaging in barter trade in this modern age in order to survive.
